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Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
 Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old history. Yesterday, the Baltic Dry Index, a leading gauge which tracks the cost to hire a dry bulk carrier, hauling commodities such as iron ore and coal, kept its upwards momentum, albeit it showed the first signs of fatigue after almost eight weeks of rallying.
The BDI ended at 4,661 points, up by 18, but the Capesize sector posted its first daily drop in many days, with the relative index (BCI) now at 8,056, down by 187 points. Still average daily time charters for capesizes stand at $ 87,118, close to this year’s highs.
According to Jim Wong, an analyst with Nomura Holdings of Hong Kong, the Baltic index will average 4,000 points in 2010. In a relative report he mentioned that the 4,000 level implies all contracts are profitable. He also added that “we reiterate our bullish view on the dry-bulk shipping sector, as we expect dry demand, mainly from China, will continue to improve, coupled with less-than-expected supply resulting from order-book delays and cancellations.”
Those are the good news thus far, since the market has raced towards the end of year, a rally which helped some owners find their optimism, book some good deals and boost their finances. But, once again, this latest rally of more than 450% from the beginning of 2009 has been fuelled by Chinese iron ore imports and ship congestion in key ports of China, Australia and Brazil. As everyone in the market knows, this factor is quite volatile and as soon as iron ore stocks in China are replenished, the BDI could very well head the opposite direction.
This time more than ever, it’s imperative for owners to scrap their older vessels, as they will compete with their younger ones, as soon as they are delivered. According to Peter Norfolk, director at SSY Consultancy and Research, who was quoted by Bloomberg, at the start of 2009 about 170 Capesize vessels were on order for delivery this year alone. However, net new ship availability amounts to just 35 vessels currently, as a result of scrapings, congestion and the fact that some greenfield shipyards have either not been built or have not delivered on schedule.
About 300 Capesize vessels were on order for 2010, Mr Norfolk said, but there was huge uncertainty over how many would be delivered.
Meanwhile, it is estimated that a total of 600 new building orders have been cancelled by ship owners. Out of them, about 400 ships or 65% are dry bulk carriers, with reportedly 120 of them Capesizes. however, this doesn’t mean much, as most yards continued building the vessels, in hopes of finding other buyers, which in fact has been the case with many Chinese owners, who are backed by local banks and of course the government.
Another interesting factor is that the main volume of cancellations occurred until May. Since then, the rate of cancellations was practically erased, with virtually no other cancellations, apart from a handful of tankers and container ships. Still, China alone seems to be able to support the market, as the country is investing in public works, which alone is a boost for demand of raw materials, while the real estate market is also on the rise.
As long as other economies return to the market, with the exit from the recession slowly becoming a reality (Singapore was another country which declared its economy is now out of the recession), dry bulk owners will have more things to cheer about.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Parliament of New Zealand
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- PTC India Limited - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
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